Tech Down Sharply as Meta Slides on Regulatory Concerns -- Tech Roundup

Shares of technology companies fell sharply as regulators put pressure on major tech firms.

European Union privacy regulators have ruled that Meta Platforms shouldn't require users to agree to personalized ads based on their online activity, triggering a plunge for the Facebook owner, which generates substantial growth from this type of advertising.

Lawmakers are demanding information from brokerage Silvergate Capital about transfers of customer funds between Sam Bankman-Fried's collapsed trading firm, Alameda Research, and his cryptocurrency exchange, FTX.

Taiwan Semiconductor Manufacturing plans to build a second semiconductor factory in Arizona and increase its investment there to $40 billion, the White House said ahead of a visit by President Biden. Apple Chief Executive Tim Cook said his company would buy chips fabricated by Taiwan Semi in the U.S.

 Write to Rob Curran at [e-mail] 

(END) Dow Jones Newswires

12-06-22 1729ET